It's not too late to cut your 2017 tax bill. Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven't been contributing at the maximum rate all year. This year you can put away up to $18,500 ($24,500 if 50 or older) into your 401(k) or 403(b) plan. If you’re self-employed, consider… Continue reading Checklist To Cut Your 2017 Taxes
Category: 2017 Year End Newsletter
Year End Projections Can Reduce Your Taxes
With the end of the 2017 calendar year quickly approaching, reviewing your specific tax situation may be tax-wise to help reduce your income taxes as well as possible underpayment of tax penalties. Year-end planning techniques to reduce your taxable income or increase your tax saving deductions may be available for you to consider before the… Continue reading Year End Projections Can Reduce Your Taxes
IRS Announces Higher Retirement Plan Limits for 2018
Most working professionals have access to a 401(k) plan or a 403(b) plan at work. Amounts contributed to these plans generally reduce your taxable earnings and always grow tax deferred. You can contribute up to $18,500 into a 401(k) or 403(b) plan through salary deferrals in 2018. Anyone 50 or older by December 31, 2018… Continue reading IRS Announces Higher Retirement Plan Limits for 2018
Roth or Regular?
These days, most 401k and 403b plans give their participants the option of contributing to the "traditional" version or the "Roth" version. With the traditional version, the amount you contribute reduces your taxable income in the current year, and then you pay taxes on distributions down the road. With the Roth version, you forego a… Continue reading Roth or Regular?
IRS Announces Higher Retirement Plan Limits for 2018
Most working professionals have access to a 401(k) plan or a 403(b) plan at work. Amounts contributed to these plans generally reduce your taxable earnings and always grow tax deferred. You can contribute up to $18,500 into a 401(k) or 403(b) plan through salary deferrals in 2018. Anyone 50 or older by December 31, 2018 can… Continue reading IRS Announces Higher Retirement Plan Limits for 2018
Year End Projections Can Reduce Your Taxes
With the end of the 2017 calendar year quickly approaching, reviewing your specific tax situation may be tax-wise to help reduce your income taxes as well as possible underpayment of tax penalties. Year-end planning techniques to reduce your taxable income or increase your tax saving deductions may be available for you to consider before the… Continue reading Year End Projections Can Reduce Your Taxes
Checklist To Cut Your 2017 Taxes
It's not too late to cut your 2017 tax bill. Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven't been contributing at the maximum rate all year. This year you can put away up to $18,500 ($24,500 if 50 or older) into your 401(k) or 403(b) plan. If you’re self-employed,… Continue reading Checklist To Cut Your 2017 Taxes
Roth or Regular?
These days, most 401k and 403b plans give their participants the option of contributing to the "traditional" version or the "Roth" version. With the traditional version, the amount you contribute reduces your taxable income in the current year, and then you pay taxes on distributions down the road. With the Roth version, you forego a current… Continue reading Roth or Regular?